Real estate agents ‘battle’ for units



Tannis Toohey/Torstar News Service


Real estate agents and brokers line up for their chance to bid on condominiums at the Beyond The Sea development on Lake Shore Boulevard West yesterday.


About 150 real estate agents and brokers camped out, some for more than 24 hours, for the chance to buy units in a much-hyped waterfront condo in a waiting game some called “survival of the fittest.”

Tempers were volatile as personalities clashed as some agents tried to scare off others to get a piece of the west-end Beyond The Sea condominium project.

“It’s a battle,” said Sofia Hassan, a sales representative for Royal LePage, who said her brother was almost chased out when he seat-sat for her. Agents were looking to make quick commissions on the condo units, arguing buyers could hope for healthy gains in the value of the properties in the coming years.

The campout, an increasingly common sight at some well-marketed condo projects, is a sign Toronto’s real estate market is not slowing down, even amid a U.S. housing slump and another nasty pullback on North American stock markets yesterday.

At the Beyond The Sea project, many spent the night, falling asleep on lawn chairs, cellphones by their side and subsisting on diets of coffee, doughnuts and pizza.

The development, near Lake Shore Boulevard West and Parklawn Road, is set to open in 2010 and has been heavily advertised. Prices for the Phase 2 project range from $169,900 to around $1 million.